The Astounding Upward Trajectory of BRC20 Token – ORDI Ever Since Binance’s Listing
Remarkably, the BRC20 token, distinctly known as ordinals or ORDI, observed an exponential rise of over 40% against the U.S. dollar on Tuesday. This substantial hike was largely attributable to the recent announcement made by Binance, the leading worldwiderypto-currency exchange, regarding listing ORDI in its array of tradable currencies. The price of ORDI escalated from an early 24-hour minimum of $7 to a magnificent high of $11.53, finally sitting at $10.48 per token, as reported latest.
ORDI Token Soars Following Its Enlistment on Binance
The introduction of ORDI onto Binance’s platform has led to an impressive boost in the token’s worth. Although ORDI has seen prior recognition through major exchange platforms such as Okx, it was Binance’s endorsement which truly propelled the token’s value beyond the $11 threshold in the Eastern Time trading rush of the morning.
ORDI tokens, otherwise referred to as Ordinal inscriptions, are tradable, interchangeable coins made on the Bitcoin blockchain, following the “BRC20” token standard. Amidst the array of recently introduced BRC20 tokens, ORDI distinctly stands out as the one boasting the highest market capitalization.
Binance’s revealed that it would list ORDI and begin trading for these spot trading pairs. As a result of the Binance effect, the BRC20 token ORDI experienced a striking, approximately 40% jump in value against the U.S. dollar. Impressively, ORDI’s market capitalization reached nearly $217 billion. The total ORDI token supply is restricted to 21 million coins, mirroring Bitcoin’s scarcity. Despite the sensational rise, ORDI’s value remained at 61% below its historic peak of $28.52 back on May 8, 2023.
Binance also announced future plans to incorporate ORDI as a “borrowable asset,” prepping it for future presence within margin listing in the next two days. The spotlight on ORDI came in the midst of a surge in interest for Ordinal inscriptions, the token having pulled in over $549,471 in miner fees from nearly 108,000 transactions.
An address identified as “16G1x” has presented itself as the ORDI heavyweight, responsible for 2,594 transactions. Close on its heels, the address “bc1qa” took second place with 1,133 ORDI transactions to its credit.
What’s your reaction to the rising value of ORDI and its listing on Binance? We’re interested in your views regarding this topic, so share them in the comments section below. To the moon!
Frequently asked Questions
1. What is Binance listing, and why is it significant for token ORDI?
Answer: Binance listing refers to the process of a cryptocurrency exchange, Binance, adding a particular token, in this case, ORDI, to its list of supported tokens available for trading. Binance is one of the largest and most well-known exchanges globally, and a listing on this platform can significantly increase the exposure and trading volume of a token like ORDI, leading to a surge in its value.
2. How much has the value of the BRC20 token ORDI increased after the Binance listing announcement?
Answer: Following the Binance listing announcement, the value of the BRC20 token ORDI skyrocketed by over 40%. This significant increase indicates a surge in demand for the token, likely driven by the increased accessibility and credibility that comes with being listed on a prominent exchange like Binance.
3. What factors contribute to the price surge of a token after a Binance listing announcement?
Answer: Several factors can contribute to the price surge of a token after a Binance listing announcement. These include increased market visibility, improved liquidity due to access to a larger pool of potential buyers and sellers, enhanced investor confidence resulting from the credibility associated with Binance, and the potential for increased trading volume and market demand.
4. Are there any risks associated with investing in ORDI after its Binance listing?
Answer: While the Binance listing announcement for ORDI has led to a significant price increase, it is important to recognize that investing in cryptocurrencies, including ORDI, carries inherent risks. These risks include market volatility, regulatory uncertainties, potential for scams or fraudulent activities, and the possibility of losing the invested capital. It is crucial for investors to conduct thorough research and exercise caution before making any investment decisions.
5. Will the price of ORDI continue to rise following its Binance listing?
Answer: Predicting the future price movement of any cryptocurrency, including ORDI, is challenging and subject to various market factors and investor sentiment. While the Binance listing announcement has positively impacted the token’s value, it is impossible to guarantee continued price appreciation. Market dynamics, investor behavior, and external factors such as regulatory changes can influence the price of ORDI in the future.
6. Can the Binance listing announcement be considered a validation of ORDI’s potential?
Answer: Yes, the Binance listing announcement can be interpreted as a validation of ORDI’s potential. Binance has a rigorous listing process and carefully selects tokens based on their credibility, market demand, and potential for growth. By listing ORDI, Binance acknowledges the token’s value and market potential, which can instill confidence in investors and attract further attention from the cryptocurrency community.
7. How can investors take advantage of the Binance listing announcement for ORDI?
Answer: Investors looking to take advantage of the Binance listing announcement for ORDI can consider several strategies. These include conducting thorough research on ORDI’s fundamentals, monitoring market trends and sentiment, assessing risk tolerance, and consulting with financial advisors if needed. Additionally, it is essential to have a well-defined investment plan and employ risk management techniques, such as diversification and setting profit/loss targets, to mitigate potential risks.
